What is Difference between MetaTrader 4 & MT5 Gold Trading Platforms?

MetaTrader 4 vs MT5 Gold Trading Platforms Difference

MT4 and MT5 platforms are electronic gold trading platforms used by traders to place gold trades online. However, MetaTrader 4 platform is primarily used for retail gold trading while MT5 is used as a multi asset gold trading software for trading stocks, stock indices, CFDs, commodities, equities in addition to gold.

MT4 platform provides traders with 9 gold chart timeframes while MT5 platform provides traders with 21 gold chart timeframes.

MT4 platform provides traders with 30 in built gold technical indicators while MT5 platform provides traders with 38 in built gold technical indicators.

MT4 platform provides traders with 31 gold charts tools while MT5 platform provides traders with 44 gold chart tools - with additional tools such as Elliot wave drawing gold tools.

MT4 platform does not provide a gold economic calendar to gold traders while MT5 platform provides traders with an economic calendar which alerts gold traders when gold news reports are about to be released.

MT4 platform does not provide depth of market DOM, to gold traders while MT5 platform provides depth of market DOM, to gold traders which allows gold traders to view where gold bids and gold offers are priced in the gold trading market.

MT4 platform uses MetaQuotes Language 4 or MQL4 for coding gold automated EA, gold trading robots while MT5 platform uses MetaQuotes Language 5 or MQL5 for coding gold automated EA, gold bots. Gold trading Expert-Advisors which are programmed using MQL4 Language are not compatible with MQL5 Language meaning MetaQuotes Language 4 or MQL4 Expert-Advisors can't be used on MetaQuotes Language 5 or MQL5 programming environment used by MetaTrader 5 software.

MQL5 coding language is easier to use as compared to MQL4 programming language which requires more programming functions to complete each gold trading operation when compared to MQL5.

MT4 gold trading EAs cannot be used in MT5 & MT5 gold EAs can't be used on MT4.

MT4 platform provides traders with four pending gold order types: buy stop, sell stop, buy limit & buy stop pending orders- while MT5 platform provides traders with six pending gold order types: buy stop, sell stop, buy limit, buy stop, buy/sell stop and buy/sell limit pending orders.

MT4 platform provides traders with hedging while MT5 platform provides traders with hedging and netting. Netting is combining of newly added gold orders to the already opened gold orders that are similar.

MetaTrader 5 platform is faster than MetaTrader 4 platform. MT5 platform is 64 bit multi threaded gold trading platform while MetaTrader 4 platform is 32 bit single threaded gold trading platform.

What is the Difference between MetaTrader 4 & MT5 Gold Platforms? - MT4 vs MT5 Gold Platforms Differences - MetaTrader 4 vs MT5 Gold Platforms Difference.